Redeye: Debilitated US & Canada sales in Doro
The region in North America remains the sinker, but H2’17 offers substantially better comparables, meaning the stock price dive following the report to us seems like an overreaction, especially as cost levels, gross margins and cash flows all remained solid. The stock is trading close to our bear case scenario and thus the advantageous margin of safety remains.
Read more and download the Research Update by Viktor Westman at: https://goo.gl/CkLU31
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